The Republican-led House of Representatives rejected a proposal on Saturday from Democratic Senate Majority Leader Harry Reid to avert a US debt default with ruinous global consequences.

Lawmakers vo

The top Republican in the Senate said Sunday he was ‘very close’ to reaching an agreement with Democrats on a deal to raise the US debt ceiling and avoid default.

"I'm very close to being able to rec

The US economy stagnated in the first half of 2011, official data showed on Friday, raising new recession alarms as political gridlock over deficits leads the country to the brink of a debt default.

Washington: The Indian economy seems to be back to the growth trend before the global financial crisis with particularly strong GDP growth over the first half of the 2010-11 fiscal, but the inflation

Early in 2009, as recession rippled around the world, the United States embassy in Moscow sent to Washington a cable summarising whispers within Russia’s political class. Prime Minister Vladimir V. Pu

Washington: At least one in seven households in the US faced hunger in 2009, with those getting emergency food almost doubling between 2007 and 2009, at the height of the recession.

The number of h

The ranks of the working-age poor in the United States climbed to the highest level since the 1960s as the recession threw millions of people out of work last year, leaving one in seven Americans
in

As the US lost 54,000 jobs last month, President, Mr Barack Obama, promised a new package of ideas next week on job creation and lashed out at Republicans for blocking a legislation to help small busi

Bosses of the 50 US companies that sacked the most staff during the recession earned 42 per cent more than their peers, concluded the research.

A report by the Institute for Policy Studies in Was

As Britain's housing market continues its downward spiral due to recession, London's biggest builders are targeting cash-rich investors from India and other emerging economies to stay afloat. A pad in